Texture not appearing while in object mode
Textures aren't displayed in Solid view by default. You can either switch to a higher level shading view which displays textures, such as textured view (&#9095; AltZ). Or you can enable Textured solid in 3D view > Properties region (N) > Shading:



Note that this doesn't affect the final render, only the viewport.

See the wiki for more information.